Copper prices in London bounced back on Thursday following a previous session’s sell-off triggered by the U.S. credit rating downgrade.
The three-month copper on the London Metal Exchange rose 0.4% to $8,543 per metric ton, recovering from Wednesday’s 1.4% drop.
However, gains were limited by a strong dollar and a darkening demand outlook, influenced by Fitch’s downgrade of the United States and economic weakness in China.
Additionally, Myanmar’s ethnic minority Wa militia implemented a mining ban, impacting tin supply. While tin, aluminum, zinc, lead, and nickel prices saw varied movements.